Anil Singhvi’s Strategy October 26: Day support range on Nifty is 11,825-11,875 & Bank Nifty is 24,250-24,325

Amid neutral global markets, futures & options (F&O), sentiment, positive foreign institutional investors (FIIs) and negative domestic institutional investors (DIIs) cues, the short-term trend of the Indian stock markets will be positive on Monday, October 26, 2020. 

Domestic equity benchmarks ended with decent gains after volatile trade on Friday, October 23, 2020. The S&P BSE Sensex advanced 127.01 points or 0.31 per cent to 40,685.50. The Nifty 50 index gained 33.85 points or 0.28 per cent to settle at 11,930.35. However, Bank Nifty closed 5.85 or 0.02 per cent down at 24,478.30. 

The broader market at BSE also climbed, outperforming the Sensex. The BSE Mid-Cap index rose 0.59 per cent and the BSE Small-Cap index added 0.71 per cent.

Zee Business’s Managing Editor Anil Singhvi’s Market Strategy for October 26:

Day support range on Nifty is 11,825-11,875 and the day higher range is 11,975-12,025.

Day support range on Bank Nifty is 24,250-24,325, below that 24,050-24,100 is the strong buy zone.

Day higher range Bank Nifty 24,650-24,800, above that 24,950-25,200 is the strong sell zone. 

Small Day Range on Nifty is 11,900-11,975, while the medium and bigger day ranges are 11,875-12,025 and 11,825-12,075, respectively.

Small Day Range on Nifty is Bank Nifty is 24,325-24,650, while the medium and bigger day ranges are 24,250-24,800 and 24,050-24,950, respectively. 

FIIs Net Index long 62% Vs 64%

Put-Call Ratio (PCR) is 1.47 Vs 1.61. India Volatility Index (VIX) 4% down at 21.83.

For Existing Long Positions:

Nifty intraday and closing stop loss are 11,825. 

Bank Nifty Intraday and closing stop loss are 24,250. 

For Existing Short Positions:

Nifty Intraday and closing stop loss are 12,050. 

Bank Nifty Intraday and closing stop loss are 24,825.

For New Positions:

Buy Nifty in 11,825-11,875 range with a stop loss of 11,750 and target 11,900, 11,930, 11,970, 12,000, 12,020.

Sell Nifty in 11,970-12,020 range with a stop loss of 12,050 and target 11,940, 11,900, 11,875, 11,835.

For New Positions:

Buy Bank Nifty in 24,100-24,250 range with a stop loss of 24,000 and target 24,325, 24,425, 24,525, 24,625, 24,800. 

Sell Bank Nifty in 24,650-24,800 range with a stop loss of 24,850 and target 24,550, 24,425, 24,325, 24,250.

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Total 7 Stocks in F&O Ban 

3 Enters F&O Ban: Escorts, Idea, Vedanta

Out of Ban: Mindtree

4 Already in Ban: BHEL, Canara Bank, PNB, Nalco